The largest drugstore chains have been in a legal battle with Pfizer, accusing it of conspiring to keep generics of its antidepressant Effexor XR out of their stores for years. Now they will have to deal with losing some of the real thing. Pfizer is recalling three lots of the drug after a pharmacist discovered a capsule of one of Pfizer's heart pills in an Effexor XR bottle, a potentially fatal combo.
The Federal Trade Commission has submitted an amicus brief in an antitrust case pitting drug retailers against Wyeth and Teva Pharmaceutical Industries, in a challenge to the companies' Effexor XR settlement.
Fido and Fluffy are getting their paws on more of their humans' prescription medicines these days.
GlaxoSmithKline ($GSK) and a group of drug wholesalers have come to terms in a lawsuit over generic Flonase. The drugmaker agreed to pay $150 million to the companies--including Meijer, AmerisourceBergen ($ABC), Cardinal Health and McKesson ($MCK), among others--that accused it of delaying cheap copies of the blockbuster nasal spray.
Pfizer ($PFE) has snapped up NextWave, the maker of a recently approved liquid ADHD drug, in a deal worth up to $680 million. The company will fork over $255 million up front, and up to $425 million in milestone payments, provided the new drug meets sales goals.
When you buy a company, you inherit its legal problems. No one knows this better than Pfizer ($PFE), which is fighting thousands of lawsuits over drugs it acquired along with Wyeth in 2009. And now, the drugmaker can add a shareholder class action to that list.
Pfizer and Impax Laboratories have reached an undisclosed accommodation on if and when Impax will be able to launch a generic of Pfizer's bladder-control drug Detrol LA. Detrol and the extended-release version racked up more than $880 million last year.
The Federal Trade Commission marches on in its cruasade against drug patent settlements. The agency filed a friends-of-the-court brief, broadening its no-no's beyond outright cash settlements. To the FTC, branded drugmakers that promise not to launch their own authorized generics are "paying" for generics delays just as well. And that, FTC says, breaks antitrust rules.
CVS Caremark and Rite Aid have signed on to the Effexor XR conspiracy theory. In an antitrust lawsuit, the drugstore chains allege that Pfizer's Wyeth unit and Teva Pharmaceutical Industries colluded to delay generic versions of the blockbuster antidepressant.
A group of drug retailers are suing Pfizer's ($PFE) Wyeth unit and generics maker Teva Pharmaceutical Industries ($TEVA), claiming that the companies worked together to keep generic versions of the